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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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Hi, Im executor for my friends will (she sadly died a fortnight

Customer Question

Hi,
I'm executor for my friend's will (she sadly died a fortnight ago). In the will she has asked for me as executor and another family member to set up a Discretionary trust for her son (aged 20) who has Aspergers Syndrome and is receiving DLA. How do we go about setting up the trust? Can it be a simple building society account that is jointly signed for and managed by both trustees? or does it need to be something more... official? There will be regluar (annual) payments made into it as well as initial death benefits (pension etc).
Thanks
C. Helm
Submitted: 4 years ago.
Category: Law
Expert:  Stuart J replied 4 years ago.
What is the value of the estate?
Customer: replied 4 years ago.


approximately £10,000 at present - one pension is still under review. However there will be at least three annual payments (royalties) my friend was an author. The annual value approx £5,000. I'm afraid these are best guesses at present.

Expert:  Stuart J replied 4 years ago.
What exactly does the will say about the trust and who is/are beneficiaries?
Customer: replied 4 years ago.

The will states that the Discretionary trust must be as flexible as possible, giving the trustee's full control over monies administered. As the monies will not be large enough to fully support the beneficiary, the will states that any monies paid should be to improve his environment and the amenities he enjoys.


 


I have already told you in my original question details of the beneficiary - what else is there to tell you about him?

Expert:  Stuart J replied 4 years ago.

Is he the only beneficiary?

Is he capable of managing his own money (many aspergers sufferers are) ?